Headlines
Why Social Security COLAs need a reality check
According to a May 2020 report by the Senior Citizens League it found between January 2000 and January 2020, Social Security benefits lost 30 percent of their purchasing power. A person who retired in 2000 with the average monthly benefit…
The pros and cons of claiming Social Security at 70
You can file for Social Security benefits as early as age 62 or delay your filing all the way until 70. Filing for your benefits early will shrink them on a permanent basis, while delaying will result in a permanent…
Social Security survivors benefits
In 2019, there were 3,878,012 widow and widowers receiving Social Security survivor benefits. Along with this large number, there is much confusion about applying for survivor benefits, and even more confusion about how much new filers might receive. The first step…
The price of claiming benefits as soon as possible just got a little steeper
Without Social Security benefits, about four in ten Americans aged 65 and older would have incomes below the poverty line, all else being equal, according to official estimates based on the 2019 Current Population Survey. Social Security benefits plays a…
Can Biden Save Social Security and Medicare?
In this interesting Chicago Tribune editorial piece appearing in the Akron Beacon Journal, a case is made that, as President, Joe Biden has an opportunity to do what Presidents before him have studiously avoided – tackle head-on the looming financial crises…
Are You Ready To Retire?
Deciding when to hang up those work clothes is, arguably, one of the most important decisions you’ll make in your lifetime. So it follows that it’s very important to fully evaluate whether you’re actually ready to retire, not only from the…
Are Social Security Benefits Taxable?
The short answer is “maybe,” depending on the amount of your total income from all sources, including half of your Social Security benefits for the tax year. Your so-called “provisional income” – your Adjusted Gross Income on your tax return,…
Social Security Disability Denied? What to do next
The stories are numerous and varied about how difficult it is to be awarded Social Security Disability Insurance (SSDI) benefits, and most stories lament that benefits were denied, or how long the process takes, especially during an appeal. The reality is that…
Thinking of Claiming Early to Avoid Depleting Savings? Not so fast!
Planning for retirement can be a challenging exercise, especially when it comes to evaluating your savings and how to make sure they’re not depleted before you die. Many people about to turn 62, the earliest you can collect Social Security…
AMAC Says Preserve & Modernize Social Security Now
President Biden and the 117th Congress will confront a Social Security program facing long term financial problems whether either likes it or not. Life expectancy has increased by over 20 years since the program began in 1935. Biden campaign promises of…